As executives of MBK Partners, the major shareholder of Homeplus Co., avoided arrest, MBK Partners said that prosecutors had "misunderstood the efforts to normalize the company through rehabilitation."
On the 14th, MBK Partners issued a statement, saying, "We understand this decision as the court recognizing that the positions of MBK Partners and Homeplus Co. on the legal principles and facts of the case are reasonable."
That morning, Park Jeong-ho, the warrant-review Director General judge at the Seoul Central District Court, rejected arrest warrants for MBK Partners Chairman Kim Byung-ju, Vice Chairman Kim Kwang-il, Vice President Kim Jeong-hwan, and Homeplus Co. Executive Director Lee Seong-jin, who are suspected of fraud under the Act on the Aggravated Punishment of Specific Economic Crimes and violating the Financial Investment Services and Capital Markets Act (fraudulent unfair trading).
Director General Judge Park said, "Based on the materials submitted so far, there is insufficient substantiation of suspicion to the extent necessary for arrest," adding, "In a warrant hearing, the suspect has no right to access the prosecution's evidence and cannot fully grasp the content of that evidence. In addition, because witness examination is not conducted, the suspect cannot confront witnesses to exercise the right to cross-examination regarding testimonial evidence," explaining the reason for the denial.
In its statement, MBK Partners emphasized, "MBK Partners and Homeplus Co. have endured responsible decisions to normalize the company through rehabilitation and will continue to do their best to restore the company."
It added, "In future legal proceedings, we will diligently clarify our position based on the facts and the law."